Aptatek Biosciences Wins “Best in Show” at Philadelphia 1st Pitch Life Science Competition
PHILADELPHIA, Nov. 11, 2019 (GLOBE NEWSWIRE) -- Mid-Atlantic Bio Angels (MABA) announces today that Aptatek Biosciences ( www.aptatek.com ) which is developing a digital at-home health-maintenance system for Phenylketonuria, a genetic disorder that causes the buildup of certain amino acids, was named “Best in Show” by the audience at MABA’s 1st Pitch Life Science Philadelphia event held on October 29, 2019 at the law offices of BakerHostelter at the Cira Center in Philadelphia.
“We are honored to have been named ‘Best in Show’ at the 1st Pitch event and were further gratified to have received useful and actionable feedback,” stated Michael Boyce-Jacino, Ph.D., CEO of Aptatek Biosciences. “We look forward to continuing to develop our Aptatek-At-Home technology and applying the excellent feedback we received during this event.”
Currently, diagnosis and monitoring of many chronic diseases is performed in centralized laboratories, which is costly, slow, and inaccessible to millions of people globally. One such disease is Phenylketonuria (PKU), which causes a buildup of the amino acid phenylalanine and can result in intellectual disability, seizures, behavioral problems, and mental disorders if not well managed. Once diagnosed, typically at birth, PKU patients must closely monitor their phenylalanine levels using expensive and slow central lab tests for their entire lifetimes to help manage potentially severe health challenges. Aptatek’s monitoring device, allowing patients to test their phenylalanine levels at home, could be game changing for thousands of people affected by PKU because it provides clinical grade testing in an easy-to-use, portable device.
Bernie Rudnick, a MABA co-founder and Panelist said, “I was impressed that the company had conducted a 1,000 patient survey to determine likelihood of uptake and appropriate pricing. We rarely see this in early companies which points to the experience and sophistication of the CEO, a serial entrepreneur.”
“Aptatek’s monitoring capability could allow patients with PKU and their families to take greater control of their disease,” said Martin Phillips, M.D., 1st Pitch panelist and MABA Steering Committee member. “Home and point-of-care monitoring is a rapidly growing field, and I think Aptatek’s technology is well-positioned to succeed in PKU and many other applications in the future.”
About AptatekAptatek is a digital health company developing a novel patient-directed home monitoring system for chronic diseases ranging from inborn errors of metabolism such as phenylketonuria to chronic kidney disease. The privately held company is a spin out of Columbia University and is based in Princeton, New Jersey.
About 1st Pitch Life Science 1st Pitch Life Science ( http://www.1stpitchlifescience.com ) is a program initiated by Mid Atlantic Bio Angels to educate early stage life science and healthcare companies and an audience consisting of life science ecosystem participants about how angel investing works. Although specific formats vary, at each event at least two early stage companies present a pitch deck and experienced investors provide either one-on-one coaching or direct constructive feedback intended to help the companies improve their chances of getting investment. The audience members vote on “Best in Show”. In all cases, the companies receive constructive criticism of the company’s presentation, business model and perceived viability in the market.
About MABA Mid Atlantic Bio Angels ( http://bioangels.net ) is a group of active angel investors, which meets in New York City monthly (except July and August) solely to hear from pre-screened early-stage life science companies. MABA members consist of individuals with significant expertise and experience in the biotechnology, pharmaceutical and healthcare industries, including former and current corporate executives, doctors and Ph.D. scientists with product development backgrounds, successful medical entrepreneurs and analyst/investors focused on life sciences. MABA’s goal is to create an environment where the depth of investors’ knowledge coupled with the pre-screening of presenting companies enhances the potential for meaningful investment. MABA recently launched a sidecar fund ( https://sidecarfund.bioangels.net/ ) to enable co-investment by accredited non-members.
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